Grain Market Update - Canola (April 2016)

The following graph shows the movement in ICE November 2016 Canola Futures and the domestic canola price delivered port. Although the canola price fell immediately post-harvest, there has been little movement in canola prices since. Like wheat, the basis has fallen significantly since late 2015.

Currently the ICE Futures price is A$493/t equivalent and the domestic price delivered port is $516/t, reflecting a positive basis of A$23/tonne.

The domestic canola price at present is slightly below the Decile 5 price, calculated on prices from 2009 to date.